RHJ plans offer of 300m for a stake in Opel

RHJ INTERNATIONAL, a rival bidder to frontrunner Magna for German carmaker Opel, is planning to offer around &euro;300m (&pound;256.9m) for a stake of just over 50 per cent in the group, it emerged yesterday.<br /><br />RHJ&rsquo;s bid comes in below the &euro;660m that Beijing Automotive (BAIC) intends to invest for a 51 per cent stake in Opel. The Chinese carmaker has also made a request for &euro;2.64bn in state-backed guarantees.<br /><br />Canadian auto parts maker Magna and its Russian backer Sberbank originally offered to invest at least &euro;500 m for a combined 55 per&nbsp; cent stake. It is expected to ask the German state to provide &euro;4.5bn in guarantees.<br /><br />RHJ chief executive Leonhard Fischer is expected to present his plan to high-ranking officials in Berlin today.<br /><br />Magna has been considered the clear frontrunner because it has pledged to save Opel jobs in Germany.